July 29th, 2010
Published Daily

GCM09 – Comex June Gold (Last:911.20)

by Rick Ackerman on May 7, 2009 12:01 am GMT

june-golds-next-thrustGold looks well fortified to buck the insanity on Wall Street, so expect it to hang out at worst if the broad averages get goosed higher again today. However, if the June futures break higher, we should expect the rally to hit a minimum 934.10 before week’s end. As the accompanying chat shows, the rally is having little trouble sustaining altitude above a Hidden Pivot midpoint at 907.10. Our benchmark for an irresistible breakout is still 935.90.

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